October 18

World Bank’s IFC Backs Indian Insurtech Startup Onsurity in $24 Million Funding

By Jagmeet Singh

Onsurity, an Indian startup that offers monthly subscription-based insurance solutions to micro, small and medium enterprises, startups and growing businesses, has raised $24 million in a funding round led by the World Bank’s International Finance Corporation (IFC).

The Series B round also saw the participation from existing investors Nexus Venture Partners and Quona Capital. With the fresh funding, the three-year-old startup has raised $40 million in total.

Source: Tech Crunch (link opens in a new window)

Investing, Technology
lending, MSMEs, startups